Bulls Having Space for 2 Max Contracts in 2019 is Possible
The Bulls started their full rebuild back in 2017. Trading away their star, and going with a youth movement. Rebuilds usually take time, but the Bulls could become a totally different team during the 2019 offseason. And it is all because of their cap flexibility.
That’s a quote from Mark Schanowski, reporter for NBC Sports Chicago. Which at this point backs everything John Paxson, Bulls Vice President of Basketball Operations, has said about the Bulls approach to the 2018 offseason. Paxson has made it clear that the Bulls will take a cautious approach this offseason and not look to overspend in free agency and tie their books down with expensive contracts. Paxson makes this even more clear in a recent radio interview as well. The Bulls goal for this offseason is mainly player development, especially from the core of Dunn, Lavine, and Markkanen. The benefit of those players making big strides in their development this off-season is obvious for the long term, but it also makes them a more appealing team to free agents come the 2019 offseason. The top thing the Bulls need to do to make themselves more appealing next off-season is win. If the Bulls’ young core develops enough this offseason to where the team makes the playoffs next season, then they will have a better chance at landing a top talent in 2019. Because not only will the Bulls be more appealing roster wise, but they’ll have plenty of cap flexibility going into the 2019 off-season.
Above you see the projected max contract amounts for the 2019 offseason. If the Bulls have high hopes for the 2019 offseason, having enough space for a max contract is necessary. I have calculated the Bulls Cap Space Projections. For now we are focusing on the 2019–20 cap space projections. At this point, I project the Bulls to have $64,665,251 in cap space for the 2019 offseason, which you can see is enough to get serious about offering two max contracts that offseason. What exactly was calculated in determining this? I assumed the following:
Cristiano Felicio’s guaranteed contract still will be on the books. Markkanen, Dunn, and Valentine’s team options will be accepted by the Oct. 31 deadline. Bulls 2018 seventh and 22nd overall draft picks will be on the books officially. Omer Asik likely will be waived, but has $3 million guaranteed that season and that guaranteed money will likely be on the books for that offseason. And lastly the Bulls for now will keep Portis’ cap hold on the books. With all those things being calculated, plus the incomplete roster charges that will occur for being under 12 contracts, the Bulls likely cap space for 2019 will be $64,665,251. In case you aren’t aware of what I mean by “incomplete roster charge”, here is Larry Coon’s, CBA Expert, explanation from his great site.
For now, the Bulls have the flexibility to open enough cap space for two max contracts. But, we need to keep the following in mind. Bulls guard Zach LaVine is a restricted free agent this 2018 offseason, he will likely sign a new contract this off-season. Therefor there has to be an understanding the 64 million in space I currently project will be lower. How low will depend on the Bulls negotiations with him this off-season, but it should be understood his new contract will likely bring the Bulls about $12–$18 million further away from our 64 million cap space projection. Also keep in mind David Nwaba. I assume he will be resigned but it is possible he won’t be signed to a multi year contract. If a multi-year contract, it’s possible the second year isn’t guaranteed. But even if some or if all is guaranteed, I don’t see him getting too much more than $5 million a season. There is also the 2019 draft pick the Bulls own. Which for now, will be hard to project salary wise because we don’t know where that pick will end up. For now we will just give the pick a value of $2.5 million, which it would be close too if the Bulls pick 15th in 2019. Which is a fair projection for now. With that in mind the Bulls are looking closer to 45 million in cap space, which is about $15-$20 million less than what we need for two max slots. But let’s not get discouraged at the two max contracts idea yet. There are some other things to consider.
Bobby Portis’ cap hold that season is worth $7,483,038. If the Bulls value the idea of having the ability to offer two max contracts, trading Portis before 2019 is something that could happen. Or if the Bulls are actually able to convince two stars to commit to Chicago, then letting Portis walk in free agency in 2019 wouldn’t be that bad at that point. And there also is Denzel Valentine’s $3,377,569 team option. That likely will be accepted by the Oct. 31 deadline, as it should, but moving Denzel in a trade if the space is necessary is also possible. There’s also the idea of attaching assets such as the 2019 1st round pick in a trade to move Felicio. That would save the Bulls about 11 million in cap space by not only moving Felicio, but not drafting a player and taking on his salary that offseason. Theoretically, if the Bulls did all that, we are talking about clearing about $20 million in cap space for that off-season, and getting back to the amount of cap space the Bulls would need to offer two max contracts. But let’s slow down here for a second.
I don’t want Bulls fans to think I am selling that this is necessary. More so I am showing you the flexibility the Bulls have going into the 2019 offseason. The Bulls’ rebuild only will progress if their young core takes big steps next season. That is what is most important. None of this matter if the Bulls flop next season, and end up around 30 wins again. But if the Bulls do play well and make the playoffs, they could easily be one of the more appealing teams come 2019. Not only because they have become a young up and coming team, but because they have the cap flexibility to sign two stars to add to their already young up and coming roster. Which would end the Bulls rebuild and push them back into contention again.
